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Socio-Economic Profile
Labor Force
Per results of the Labor Force Survey conducted in 2000 by National Statistics Office in
Bohol, the province's potential labor force increased to 701,000 of which 62% are in the
labor force. Employment rate, at the end of 2000, increased to 93% from 90.5% in 1999. However,
an increase in underemployment was noted by 0.9 percentage points from 11.7% in 1999 to 12.6%
in 2000. Employment was predominantly agriculture-led.
Bohol's inflation rate in September 2000 decreased to 7.1%, with 4.7 percentage points lower
than the rate in the same period of 1999. The purchasing power of the peso at 1994 prices
was pegged at P0.65 in 2000, among the lowest in the region.
The approved minimum daily wage rate for Bohol, as of October 1, 2000 is P155.00 for non-agricultural
and P130.00 for agricultural. Based on the 1997 survey, Bohol's average annual family income,
pegged at P56,940.00, was among the lowest in the region. The average annual expenditure
in 1997 for a Boholano family amounted to P50,754.00, the highest in the region. Fifty (50)
percent of Bohol's families have their main source of income from entrepreneurial activities
while 27% from wages and salaries.
Poverty Incidence
In 1997, Bohol's poverty incidence rate of 48.4% was the highest in Region 7, higher than
the national average rate of 40%. However, this has been decreasing over the years from
a high 60.5% in 1985 and 54.7% in 1991.
As to the flow of commodities in and out of the province from Bohol's ports, limestone topped
the list of exported commodities of the province in year 2000 toppling rice which became
the number 2 exported product of Bohol. Other outgoing top commodities include GI sheets,
salted fish, native products, mangoes, banana, cattle, copra, carabao, salt, hog, raffia,
cooked fish and nipa shingles with a total volume of 613,360 metric tons. Cement topped
the list of incoming commodities followed by appliances, feeds, manufactured goods, fertilizer,
furniture, corngrits, flour, cooking oil, rice, refined sugar, motorcycle, hardware/construction
materials, plywood and medicine with a total recorded volume of 370,703 metric tons for
the top 15 commodities. From this same report, it is noted that, among the incoming goods
in Bohol, the province had been importing rice over the years. In 2001, Bohol was estimated
to have imported 280,000 bags of rice per report gathered from NFA.
Commerce and Trade
The number of DTI-registered single proprietorships decreased in 2000 relative to 1999 levels.
The value of corresponding planned investments also dropped. The value of intended investments
for 2000 was P106.0 million, down from P.132.40 million in 1999. Although predominantly
an agricultural province, micro and cottage industries also play a vital role in Bohol's
economy.
Tourism Industry
In the light of Bohol being identified as a tourist hub, inflows in the area of tourism
and manufacturing can serve as possible venues for Bohol's future investments. Letter of
Instruction No. 75 issued on 22 May 1973 serves as a major guideline in indicating areas
for tourism-related investments and infrastructure development while Proclamation No. 1801
proclaims certain areas in Bohol as tourist zones. This includes the Islands of Panglao,
Cabilao and Balicasag.
Aside from its pristine white-sand beaches and the Chocolate Hills, Bohol's tourism assets
also include centuries-old churches and towers, scuba diving havens, majestic falls and
caves and historical landmarks as well as primitive and exotic fauna and flora. Different
tourist destination sites have been developed by the Government to boost this industry.
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